March 2009 Summit County Real Estate Market Analysis

Attached, you will find the Land Title Guarantee Company March 2009 Market Analysis from Summit County. New Format: There are 9 PDF files attached.

Some Interesting Points:

-There were 7 closings in the new Cache at Union Creek totaling: $4,171,000 or $595,857 per unit-(These units were not in the Assessor’s system at the time the Market Analysis was calculated, so there are no PPSF calculations available)

-There were 2 sales for new homes in The Shores- totaling $2,475,000 or $1,237,500 per unit/$470.88 Average PPSF

-March was the best month so far in 2009 with # of transactions and $ monetary volume

-YTD, Summit County monetary volume was down 60%, and numbers of transactions were down 56% compared to 2008. YTD, both monetary volume and number of transactions are down 60% compared to YTD 2008.

-As of April 7, 2009, there are 2049 active Summit County MLS listings – Residential (1694) and Vacant Land (355) – There were 1256 Active Listings in 2008

(Res. and Vacant), 788 in 2007 (Res. and Vacant) and 1100 in 2006 (Res. and Vacant).

- Cash transactions were 42% of all Real Estate closings for the month of March.

· Summit County 2004-2005-2006-2007-2008-2009 Graph Comparison

· Cost Breakdown, March 2009 for Residential Improved Units (New Construction, Resales and March Gross Residential Price Index and YTD Gross Residential Price Index), also shows Full Year 2008, 2007 and 2006 Gross Residential Price Index with # of transactions, total volume and average price

· Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate. If you choose to utilize this marketing information in any publications or websites, please make sure you are quoting Land Title as your source.
by Land Title Guarantee Company